Pingmei Shenma Holding Group recently unveiled its plaque in Zhengzhou
China Pingmei Shenma Holding Group Officially Launched in Zhengzhou After Major Restructuring
China Pingmei Shenma Holding Group, formed through the restructuring of two major state-owned energy enterprises in Henan, was officially unveiled in Zhengzhou on the 16th, with total assets reaching 590 billion yuan.
The group emerged from the merger of Henan Energy Group Co., Ltd. and China Pingmei Shenma Group, two leading players in Henan’s coal, chemical, and new materials sectors. Their business profiles were highly complementary, sharing similar strategic positioning. The restructuring process began in September 2025.
The newly formed conglomerate now oversees five listed companies, with its premium coking coal quality and tire cord material production capacity ranking among the world’s best. Additionally, its nylon 66 salt and engineering plastics production capacities place it in Asia’s top tier. The group boasts over 30 billion tons of coal reserves and 2.3 billion tons of rock salt reserves.
Song Xiangqing, Vice President of the China Society of Commercial Economy, noted that the restructuring goes beyond mere scale expansion. Instead, it leverages synergistic effects (1+1>2) by combining strengths—enhancing coal industry supply chains, upgrading chemical production efficiency, and accelerating clean energy investments (wind, solar, energy storage, hydrogen) in line with China’s “dual-carbon” goals.
Henan has been actively consolidating state-owned assets in recent years. In September 2025, China Henan International Cooperation Group merged with Henan Natural Resources Investment Group to create a unified platform for global cooperation. Earlier, the province also integrated logistics resources under Henan Zhongyu International Port Group to accelerate international logistics hub development, while Henan Port & Shipping Group was established to streamline inland waterway operations.
Song explained that Henan is optimizing its state-owned capital through “merging similar entities” and “industrial chain integration”, reinforcing regional energy security while building resilient growth engines against market fluctuations. This strategy lays a solid foundation for fostering world-class industrial clusters and propelling the province’s SOE reforms into the national forefront.
(China News Service)
